Duplex Package With Redevelopment
For Sale
$1,485,000
1-2-925 W Las Olas Blvd, Fort Lauderdale, FL 33301
Two residential income properties combine existing rent with an approved redevelopment path.
Property Size3,212 SF
Price / SF$462.33
Days on Market18
Property Features for 1-2-925 W Las Olas Blvd
General Information
Standard status
Active
Size
3,212 SF
Property subtype
Residential Income
Additional Details
Road Access
Yes
Taxes and HOA fees
Annual Taxes
$9,202
Listing Agency:
Compass Florida LLC
(610) 295-9127
Listed By:
Dominic Posocco · License #3441361
(610) 295-9127
Source:
Exprealty
Added: Jul 24
Changed: Aug 2
Last Checked: Aug 10 at 7:58AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Compass Florida LLC
Investment Insights
Based on property information with market context.
This offering combines two duplex properties into one multifamily package, with in-place rental income supporting the current use. The assets are located at 923 and 925 W Las Olas Boulevard in Fort Lauderdale’s Sailboat Bend area, within Downtown Fort Lauderdale.
The combined parcels have been fully entitled for redevelopment, and a complete set of development plans is included. The property therefore presents both an operating multifamily configuration and an approved redevelopment option. Existing rental income and the approved plans provide two clearly defined components for evaluating the offering.
The combined parcels have been fully entitled for redevelopment, and a complete set of development plans is included. The property therefore presents both an operating multifamily configuration and an approved redevelopment option. Existing rental income and the approved plans provide two clearly defined components for evaluating the offering.
Key Highlights
- Two duplex properties offered together as one multifamily package
- In‑place rental income from the existing residential assets
- Combined parcels fully entitled for redevelopment
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$53,543
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.61%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,070,860
$1.1M
Cap Rate 7%
$764,900
$764.9K
Cap Rate 9%
$594,922
$594.9K
Market Conditions
NOI Build-Up for 3,212 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$80.9K $25.20/SF
− Vacancy
−$4.5K −$1.39/SF
EGI
$76.5K $23.81/SF
− OpEx
−$22.9K −$7.14/SF
NOI
$53.5K $16.67/SF
Area
Fort Lauderdale, FL
Vacancy
5.50%
Lease Rate
$25.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,070,860
Cap Rate 7%
$764,900
Cap Rate 9%
$594,922
Alternative Uses
Best Use
Multifamily LT 5
$764.9K
$669.3K – $892.4K
NOI $53,543 @ 7.0% cap · market cap 3.61%
Second Best
Apartment 5plus
$689.0K
$602.9K – $803.9K
NOI $48,232 @ 7.0% cap · market cap 3.25%
Theoretical Best
Office A
$2.16M
$1.89M – $2.52M
NOI $151,092 @ 7.0% cap · market cap 10.17%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
8,913
Businesses Nearby
Explore this area
Business Placement
Demographics for 33301, FL
19,109
Population
13,955
Households
1.4
Avg Household Size
42
Median Age
62%
College-Educated
96%
High-School Grad
2.5 sq mi
ZIP Area
7,644
Density / Sq Mi
$115,421
Median Household Income
$76,365
Median Earnings
$2,341
Median Rent
$751,600
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Two residential income properties combine existing rent with an approved redevelopment path.
Where is this duplex located?
The property is located at 1-2-925 W Las Olas Blvd Fort Lauderdale, FL.
What is the asking price?
The asking price for this property is $1,485,000.
What are key features of this property?
This property features: Two duplex properties offered together as one multifamily package; In‑place rental income from the existing residential assets; Combined parcels fully entitled for redevelopment
